Mega Bank reports 8% rise in net profit for Q1 of 2076/77; Deposits and loans increase by 1.54% and 1.8% respectively
Sun, Nov 17, 2019 2:47 PM on Financial Analysis, Latest, Stock Market,
Mega Bank Limited (MEGA)'s net profit rises by 8.12% in the first quarter of the fiscal year 2076/77. The bank’s profit has increased from Rs 40.45 crore in the first quarter of the fiscal year 2075/76 to Rs 43.74 crore in the first quarter of the fiscal year 2076/77.
The bank’s deposit from customers rises by 1.54% to Rs 79.89 arba and at the same time loans and advances to customers rise by 1.80% to Rs 71.11 arba till the first quarter. The net interest income of the bank has increased by 13.60% to Rs 1.05 arba from Rs 92.81 crore of the corresponding quarter.
The bank’s paid up capital stands at Rs 10.38 arba with Rs 1.85 arba as its reserve and surplus. The Non-Performing Loan (NPL) has also increased to 1.42%.
In the first quarter, the annualized EPS of the bank stands at Rs 16.84. The net worth per share stands at Rs 133.84 and the quarter end PE ratio stands at 11.83 times.
Major Highlights:
| Particulars (In Rs '000) | Mega Bank | ||
|---|---|---|---|
| Q1 2076/77 | Q4 2075/76 | Difference | |
| Paid Up Capital | 10,388,621 | 10,388,621 | 0.00% |
| Retained Earnings | 1,659,275 | 1,221,867 | 35.80% |
| Reserves | 1,856,291 | 1,901,409 | -2.37% |
| Deposits from Customers | 79,895,702 | 78,684,859 | 1.54% |
| Loans & Advances to customers | 71,118,234 | 69,861,327 | 1.80% |
| Q1 2076/77 | Q1 2075/76 | ||
| Net Interest Income | 1,054,370 | 928,161 | 13.60% |
| Impairment Charge/(Reversal) | 141,383 | 146,864 | -3.73% |
| Personnel Expenses | 349,923 | 242,542 | 44.27% |
| Operating Profit | 629,623 | 577,115 | 9.10% |
| Profit/(Loss) for the Year | 437,408 | 404,573 | 8.12% |
| Total Comprehensive Income | 392,289 | 402,606 | -2.56% |
| Capital Adequacy Ratio (CAR) | 15.27 | 17.1 | -10.70% |
| NPL | 1.42 | 1.08 | 31.48% |
| CCD (as per NRB Directives) | 77.24 | 79.61 | -2.98% |
| Cost of Fund (%) | 7.4 | 7.56 | -2.12% |
| Base Rate (%) | 10.19 | 10.55 | -3.41% |
| Annualized EPS (In Rs.) | 16.84 | 15.58 | 8.12% |
| Net Worth per Share (In Rs.) | 133.84 | ||
| Qtr End PE Ratio (times) | 11.83 | ||
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